Select Water Solutions (NYSE:WTTR) Reaches New 52-Week Low – Here’s Why

Select Water Solutions, Inc. (NYSE:WTTR)’s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $8.50 and last traded at $8.70, with a volume of 388666 shares changing hands. The stock had previously closed at $9.53.

Analysts Set New Price Targets

Separately, Citigroup upped their target price on Select Water Solutions from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, January 10th.

Select Water Solutions Stock Performance

The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 29.05 and a beta of 1.51. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 1.65. The stock’s fifty day moving average is $11.45 and its two-hundred day moving average is $12.33.

Select Water Solutions (NYSE:WTTR) last announced its earnings results on Tuesday, February 18th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.14). Select Water Solutions had a net margin of 2.11% and a return on equity of 3.48%. The business had revenue of $349.05 million for the quarter, compared to analyst estimates of $333.62 million. Analysts forecast that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date was Tuesday, February 4th. Select Water Solutions’s payout ratio is 93.33%.

Insider Transactions at Select Water Solutions

In other news, CEO John Schmitz sold 73,450 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $13.03, for a total value of $957,053.50. Following the sale, the chief executive officer now owns 2,825,128 shares in the company, valued at approximately $36,811,417.84. This represents a 2.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Select Water Solutions

Several large investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its holdings in shares of Select Water Solutions by 24.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 5,044 shares of the company’s stock worth $67,000 after purchasing an additional 1,007 shares during the period. SkyView Investment Advisors LLC raised its stake in Select Water Solutions by 1.8% during the third quarter. SkyView Investment Advisors LLC now owns 61,105 shares of the company’s stock worth $680,000 after acquiring an additional 1,073 shares during the period. Summit Investment Advisors Inc. raised its stake in Select Water Solutions by 13.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,545 shares of the company’s stock worth $126,000 after acquiring an additional 1,143 shares during the period. Inspire Advisors LLC boosted its stake in Select Water Solutions by 6.2% in the fourth quarter. Inspire Advisors LLC now owns 20,751 shares of the company’s stock valued at $275,000 after acquiring an additional 1,216 shares during the period. Finally, Swiss National Bank raised its position in shares of Select Water Solutions by 0.8% during the 4th quarter. Swiss National Bank now owns 181,900 shares of the company’s stock worth $2,408,000 after purchasing an additional 1,400 shares during the period. 81.73% of the stock is currently owned by institutional investors.

About Select Water Solutions

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.